AIG Won't Join Greenberg Lawsuit

1/9/2013 4:22PM

American International Group's directors decided not to participate in a lawsuit that accuses the U.S. government of taking advantage of the company in its rescue from the financial crisis. Colin Barr has details on The News Hub. Photo: AP.

This transcript has been automatically generated and may not be 100% accurate.

... the ... AIG's all smiles all the CEO Hank Greenberg ... by deciding not to simply don't mind ... that the bailout ... back and mall ... right here right now on the use of ... the afternoon and welcome I'm Simon Constable with the storyline AG we have The will Street gentle scolding bonds with me on sat ... on the areas ... now ... Hank Greenberg the former CEOs suing ... the government see on aam over the tryline ... why is he or she was walking ... he believes he was wrong by the bailout was his contention is that AIG is to put everything was fine was all too often we find AIG there's no problem ... there's no reason for shareholders to ... keep the which is the biggest to be wiped out ... so he's he's a stop if not permanent ... what is going to meet the need to build ... the company from placing the round Roundup route to pull it up ... the current board all day she ... has decided not to say that at the cabin is that that that's what's not to contact the riots although some seem like a y Stewie some cardboard because the company exists largely because government failed now ... aam ... you can run out money which is you know it's it's difficult offering without money and on into two thousand with the government did was ... to extend but just like credit and things like that that love continue operating ... missile seems to speak at the screen for true true believers who ... seems to believe to leave to ... of that that everything's as can be totally fine I was ... just out there ... all six all this what the way it looks to the public pays the tax pass us human may be the different sizes ... aam ... Jonas generous leave ... generously Dave billions of dollars to identity to keep in mind I'm and I was to settle ... at the end is normally seen a word about the optics of a no zero to the European rich guys are worried that the oft so much and so he's he's somebody who does he feels genuinely want but in his his case is is beyond borders on ridiculous because this company was ... in in terrible shape and been there all the young ... man ... after he was kicked out in two thousand fine ... made a lot of mistakes but that's not really ... the government also get the whole six was off the reason that the current board of directors of AIG didn't do this I think I think they what they can consider it does have fiduciary duty to their shareholders to consider consider various things sought to legal ways to get my an epic that they have to be had to think about this of course do with them again would just absurd for them to come to stay in the U S assistance to sell the night and I think the fifth year that they have this ad campaign which they're being very grateful and things like that net ... think everybody stock is a long-term buy that sense that we ... do what we would all like to move on from this from this particular ins are a lot people it's a it's a bad memory in so many ways to look into that often appear in Alabama right we had a sour taste in them out over the bailouts right that's right yet and I think the government saying that we knew we the taxpayers that he made money on things like AIG and Citigroup and ... then also that there is not really much of an alternative to you that if if you allow these companies to go down to the financial system was jeopardizing who knows what would've been on the other side ... some think we all serve except for the new most people except those those markets that make anybody happy to have to think about it and not Sunday ... what they're up against and add them making a stink about to get gas